PFS scrip jumps 2% on SBI credit facility
NEW DELHI: Shares of PTC India Financial Services (PFS) climbed over 2 per cent on Tuesday after the company said it had received a sanction for credit facilities of Rs 1,400 crore from State Bank of India (SBI).
This arrangement also includes a partial credit enhancement (PCE) facility of Rs 400 crore, which will support Rs 2,000 crore bond issuance.
In November 2018, the Reserve Bank of India allowed banks to provide PCE limits to non-banking finance companies (NBFCs) in view of cash crunch faced by such entities.
The stock traded 1.97 per cent up at Rs 18.10 around 9:50 am on the BSE. The benchmark Sensex was 0.07 per cent down at 35,825 at that point.
This arrangement also includes a partial credit enhancement (PCE) facility of Rs 400 crore, which will support Rs 2,000 crore bond issuance.
In November 2018, the Reserve Bank of India allowed banks to provide PCE limits to non-banking finance companies (NBFCs) in view of cash crunch faced by such entities.
The stock traded 1.97 per cent up at Rs 18.10 around 9:50 am on the BSE. The benchmark Sensex was 0.07 per cent down at 35,825 at that point.
